26 unchanged sentences
Such events could cause significant delays in shipments and may adversely affect our revenue, cost of goods sold and results of operations.
−Removed: The restructuring plan that we adopted in July 2019 and the associated shift in business strategy may not result in the anticipated benefits.
−Removed: In July 2019, the Company adopted the 2019 Restructuring Plan pursuant to which the Company elected to wind down its prior manufacturing operations at the Company’s Lake Forest, CA facility and seek to outsource the manufacture of parts utilizing the Company’s technology through its domestic and international manufacturing partners.
−Removed: In connection with the 2019 Restructuring Plan, the Company reduced its management staff and shifted its business strategy from internal manufacture of parts and products for customers toward the use and reliance of outsourced manufacturers, including Yihao, a China-based company that is an affiliate of our largest beneficial stockholder, our Chairman, Professor Lugee Li.
−Removed: The purpose of this shift was to preserve and maximize the value of the Company’s assets by reducing the infrastructure and cost associated with maintaining and building manufacturing operations and maximizing the prospects of successfully and more rapidly commercializing amorphous alloy products by leveraging the manufacturing capabilities of Yihao and potentially other manufacturers.
−Removed: There is no assurance, however, that this strategy will enable the Company to more rapidly and successfully commercialize its products.
The recent outbreak of COVID-19 and measures intended to prevent its spread may have a significant negative impact on our business, results of operations, and financial condition.
214 unchanged sentences
These provisions:
−Removed: authorize our board of directors, without shareholder approval, to issue up to 10,000,000 shares of “blank check”
−Removed: preferred stock that could be issued by our board of directors to increase the number of outstanding shares and prevent a takeover attempt;
−Removed: limit shareholders’
−Removed: ability to call a special meeting of our shareholders;
+Added: authorize our board of directors, without shareholder approval, to issue up to 10,000,000 shares of “blank check” preferred stock that could be issued by our board of directors to increase the number of outstanding shares and prevent a takeover attempt;
+Added: limit shareholders’ ability to call a special meeting of our shareholders;
establish advance notice requirements to nominate directors for election to our board of directors or to propose matters that can be acted on by shareholders at shareholder meetings.
14 unchanged sentences
We will rely on the manufacturing operations of a third party controlled by our largest stockholder and Chairman, which presents a potential conflicts of interest.
−Removed: As a result of the 2019 Restructuring Plan, we will rely, on Yihao to manufacture our products.
−Removed: Yihao is an affiliate of Professor Li and is indirectly controlled by Professor Li.
+Added: We currently rely on Yihao to manufacture our products.
+Added: Yihao is an affiliate of Dongguan Eontec Co.
+Added: and Professor Li our Chairman and is indirectly controlled by Professor Li.
Professor Li, through his affiliates, is the largest beneficial owner of our common stock and owns approximately 45.4% of our common stock and is able to exercise significant influence over all matters affecting us, including the election of directors, formation and execution of business strategy and approval of mergers, acquisitions and other significant corporate transactions, which may have an adverse effect on our stock price and ability to execute our strategic initiatives.
1 unchanged sentence
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.